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JaMarcus Russell faces foreclosure on house

Russell Briskman

Former Raiders quarterback JaMarcus Russell needs to sell more sizzurp.

His $2.4 million mansion in the Bay Area is facing foreclosure, according to TMZ.  He owes $195,512.05 in mortgage payments in the next three months or there will be an auction to sell the property.

If Russell doesn’t pay up, that parcel of NFL history could be all yours.

Purple Drank not included.

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58 Responses to “JaMarcus Russell faces foreclosure on house”
  1. idolized1 says: Mar 4, 2011 8:41 AM

    After receiving such a large signing bonus and other guaranteed money, it makes you wonder how 1. he did not just purchase the house and 2. how a “small” payment of under 200k can not be made.

    It makes you wonder what this guy spent millions and millions of dollars on…

    Besides cheesecake.

  2. chapnastier says: Mar 4, 2011 8:41 AM

    Why didn’t he just pay cash for the house? I mean if I have 32 million bucks I don’t think I take out loans for things. What an idiot.

  3. canadaramsfan says: Mar 4, 2011 8:43 AM

    Lol what a bum

  4. johnnyb216 says: Mar 4, 2011 8:43 AM

    Ahahahaha….ahahahaha!

  5. joetoronto says: Mar 4, 2011 8:45 AM

    Already broke, you had to see this coming.

  6. flasaint says: Mar 4, 2011 8:48 AM

    What a BUM……..I am so sorry that he was a
    LSU Tiger…………….

    Lazy fat ass !!!!!

  7. clintonportisheadd says: Mar 4, 2011 8:49 AM

    Its probably a smart business decision.

    He is not going back there and he probably is underwater on the note anyway.

    I believe California won’t allow the mortgage folks to go after a deficiency so why would he not go that route?

  8. lgbarn says: Mar 4, 2011 8:49 AM

    Amazing how much money this guy made and now he can’t pay his mortgage. This is just being irresponsible with your career and money and obviously he couldn’t handle either

    How sad is that?

  9. blizzard01 says: Mar 4, 2011 8:49 AM

    Let this be a lesson to you kids-

    When you steal money from the Raiders, bury it somewhere until the coast is clear. Do not buy real estate.

  10. clintonportisheadd says: Mar 4, 2011 8:51 AM

    chapnastier says: Mar 4, 2011 8:41 AM

    Why didn’t he just pay cash for the house? I mean if I have 32 million bucks I don’t think I take out loans for things. What an idiot.

    ———————–

    You NEVER pay cash and tie up your own money when you can get cheap money with a loan. Ask any real estate investor.

  11. bengalsown says: Mar 4, 2011 8:53 AM

    Let’s completely ignore the fact that giving the house up to the bank is probably actually saving him a ton of money…

  12. ilpackerbacker says: Mar 4, 2011 8:54 AM

    Who is the one around here that came up with the name JaBustus Russell? That was friggin’ hilarious, LOL.

  13. 6250claimer says: Mar 4, 2011 8:55 AM

    He’ll be living in a cardboard box duplex next door to Michael Vick, under an overpass below I-80, sometime before 2013. MARK IT!

  14. grantgoodman93 says: Mar 4, 2011 8:55 AM

    Can you say most expensive trap house ever?

  15. blacktoothgrinn says: Mar 4, 2011 8:57 AM

    Why does he still have a house in the Bay Area? I thought he tucked his tail between his legs and moved back home to Alabama.
    Broke after 1 year, that’s pretty impressive

  16. riverhorsey says: Mar 4, 2011 8:59 AM

    maybe this will motivate him ?

  17. whitetrashking says: Mar 4, 2011 9:01 AM

    Guess he should have bought cheaper suits rather than having Cadillac custom taylor him some (as the pic above suggests)

  18. BC says: Mar 4, 2011 9:06 AM

    Chipwich.
    Dude could have written a check for the thing. Where the bleep did the $40 mil (or whatever it was he earned) go? Did he invest it with Bernie Madoff or something? For crying out loud, the guy could have bought Wyoming* with the amount of money he had.
    * Why he would, I don’t know. Just trying to be illustrative.

  19. cytofed says: Mar 4, 2011 9:10 AM

    No one cares about his house being in foreclosure. What they do care to know is how many million of his rookie contract was spent on purple drank.

  20. luboshka says: Mar 4, 2011 9:11 AM

    Why is it that almost only Raiders choose those kind of players?:))

  21. 8man says: Mar 4, 2011 9:12 AM

    This is funny and sad. It’s sad because we know he has the money for this, he’s just choosing not to pay. Just like he chose not to earn what the Raiders gave him.

    What an incredibly selfish, arrogrant piece of slime this kid turned out to be. I won’t be shedding any tears for him as his life progresses deeper and deeper into the inevitable abyss that his type of person so richly deserves.

  22. deadmanwalking47 says: Mar 4, 2011 9:17 AM

    maybe instead of buying the house,he just wants it to go into forclosure since he ain’t moving back there.

  23. blkmanwtan says: Mar 4, 2011 9:17 AM

    Wow, I can’t believe some of you guys think that it is funny that his house is going up for forclosure. I guess it is very funny that this country is broke also?

    This is an example on why not to give money to someone who hasn’t earned it. JaMarcus was talented, but he was one of the laziest, immature, and most unprepared NFL players I’ve ever seen in my life. I hope this situation turns him into a better person in live. I don’t like to see anyone go down like this, but for JaMarcus it had to happen.

  24. facebook.com/joesimmonscomic AKA Slow Joe (Bucs fan) says: Mar 4, 2011 9:18 AM

    I doubt he’s broke. He just doesn’t want the house anymore, and can’t sell it because it’s underwater. This is an excellent example of why you don’t pay cash for homes. Always finance.

    Also, he probably sucks at paying bills.

  25. pftequalsgreatjournalism says: Mar 4, 2011 9:19 AM

    clintonportisheadd says: Mar 4, 2011 8:51 AM

    chapnastier says: Mar 4, 2011 8:41 AM

    Why didn’t he just pay cash for the house? I mean if I have 32 million bucks I don’t think I take out loans for things. What an idiot.

    ———————–

    You NEVER pay cash and tie up your own money when you can get cheap money with a loan. Ask any real estate investor.
    ++++++++++++++++++++++++++++++++++++

    clinton, I would agree with you if we were talking about people who paid their bills on time, didn’t get cut and later arrested…

  26. terminalsd says: Mar 4, 2011 9:20 AM

    Duh? LOOOOOSER!? (Valley Girl Style) LOL

  27. minnesconsin says: Mar 4, 2011 9:20 AM

    I didn’t think $2M would buy a “mansion” in the bay area, but I guess times have changed?

    for what it’s worth, there are plenty of advantages to taking a mortgage out even when you can afford to pay cash — building credit, tax breaks on interest paid, etc. And, in his case, it worked out well. Had he sunk the cash into that place he’d be trying to sell it at a loss right now. Instead, he defaults on the loan and walks away leaving the bank w/ the hassle. It’s messed up, but it’s reality.

  28. paul82461 says: Mar 4, 2011 9:21 AM

    Hey Jawalrus, I dont live to far from McDonalds, I have a cardboard box I can set up by the dumpster. You can fight the seagulls over french fries 24/7.See you under the overpass.What a turd.

  29. omniusprime says: Mar 4, 2011 9:24 AM

    Sweet Poetic Justice for Jerky Boy Russell. He’s gotten what he deserves for being such a prima donna his first year holding out for a huge contract he never deserved. Too bad he never bothered to earn his illgotten gains and hopefully no NFL team will be stupid enough to sign him. Make him go work for a living like the rest of us!

  30. sourdough says: Mar 4, 2011 9:29 AM

    Once a Raider, always a Raider.
    Nice pick Al.

  31. shallowfan says: Mar 4, 2011 9:45 AM

    “Its probably a smart business decision.

    He is not going back there and he probably is underwater on the note anyway.

    I believe California won’t allow the mortgage folks to go after a deficiency so why would he not go that route?”

    What he said. This is exactly what is happening. Cal is a nonrecourse state which means he walks away and the bank cannot come after him for the amount the house goes for at auction and the amount he owes.

  32. duanethomas says: Mar 4, 2011 9:45 AM

    From Alabama, financial problems, substance abuse, Raider QB…he’s acting like Ken “snake” Stabler. Sad. Ryan Leaf, Tim Couch, Joey Harrington, Matt Leinhart, now JaMarcus.

  33. mike83ri says: Mar 4, 2011 9:46 AM

    To the people saying to let it foreclose, I don’t think you realize how that works. Just because the bank seizes the property and sells it to cover as much of your mortgage as possible doesn’t mean you aren’t still on the hook for the difference. My guess is that it won’t auction for within $200k of what he owes, so he’ll owe more and have no house.

  34. RaiderMight says: Mar 4, 2011 10:10 AM

    @clintonportisheadd Good post. The first person I actually see think this one out. While he could possibly be broke, he doesnt live in the Bay Area, may never come back. The house like many may be under water, and like any person with a lawyer or any realestate sense, he must know the relaxed CA laws will give him a break, thanks Bush & Terminator, so its a good business move.

    Like any smart business investor, not saying he is (his lawyers seem like it), he didnt pay for the house out of pocket just because he had the cash.

  35. richm2256 says: Mar 4, 2011 10:19 AM

    $31.5 million guaranteed on a contract.

    Owes $195,512 in arrears on a $2.4 million house

    This ended about as well as his career.

  36. chapnastier says: Mar 4, 2011 10:19 AM

    @ clinton

    Logic like that is what caused the financial situation we are in today my friend. You are the first person that I have ever heard that thinks it is smart to carry that much debt.

  37. shrike58 says: Mar 4, 2011 10:37 AM

    It’s idiocy like this that makes you appreciate why there needs to be reform in regards to draft deals and why owners tear their hair out over malcontent prima donnas.

  38. huejackson says: Mar 4, 2011 10:40 AM

    Note to PFT,
    Us Raider fans dont care about Jamarcus russell, You only print these stories cause you think it hurts us. We dont care…
    Raiders are the hottest team in The NFL right now and will be the superbowl champs.
    Its funny I never see you guys write about past bust for other teams.
    Patsriots selected Chad Jackson number 1 pick in 2007.. where is he? out of the NFL.
    Oh and PFT your loser stellers, yeah how about their number 1 picks
    Steelers draft Jamain Stephens
    hmmmmm….. No mention of that guy????
    Nobody remebers the team who lossed the superbowl.
    hahahahahahahaha steelers suck

  39. jackbassett says: Mar 4, 2011 10:45 AM

    mike83ri says: Mar 4, 2011 9:46 AM

    To the people saying to let it foreclose, I don’t think you realize how that works. Just because the bank seizes the property and sells it to cover as much of your mortgage as possible doesn’t mean you aren’t still on the hook for the difference. My guess is that it won’t auction for within $200k of what he owes, so he’ll owe more and have no house.
    ____________________

    Actually, it depends on State law. About 20 or so States don’t allow the lender to go after the borrower after foreclosure (that is, a primary mortgage). I believe California is one of them. Many factors some into play…it’s not a simple “they can come after you even after foreclosure.” To be clear, I am not an attorney but I did stay at a Holiday Inn last night.

  40. jupe says: Mar 4, 2011 10:49 AM

    could be just another strategic default on property that has lost value. jacarcus unlikely to be an astute financial planner with his funds though & in near future most likely he will be bk

  41. edukator4 says: Mar 4, 2011 10:50 AM

    huejackson says

    “Raiders are the hottest team in The NFL right now”

    you’re right, they went undefeated through january and february. definitely no other team is hotter. especially the one that holds the hardware.

    in terms of you referencing the pats and steelers’ draft busts; 2 things
    1 they werent 1st overalls,
    2 maybe pick a team that isnt in the top 5 in terms of success in recent memory.

  42. rcunningham says: Mar 4, 2011 11:02 AM

    huejackson says: Mar 4, 2011 10:40 AM

    Note to PFT,
    Us Raider fans dont care about Jamarcus russell, You only print these stories cause you think it hurts us. We dont care…
    Raiders are the hottest team in The NFL right now and will be the superbowl champs.
    Its funny I never see you guys write about past bust for other teams.
    Patsriots selected Chad Jackson number 1 pick in 2007.. where is he? out of the NFL.
    Oh and PFT your loser stellers, yeah how about their number 1 picks
    Steelers draft Jamain Stephens
    hmmmmm….. No mention of that guy????
    Nobody remebers the team who lossed the superbowl.
    hahahahahahahaha steelers suck

    My brain hurts after reading this. Especially considering Chad Jackson was drafted in 2006 and went in the SECOND ROUND

  43. vetdana says: Mar 4, 2011 11:05 AM

    Just because the bank seizes the property and sells it to cover as much of your mortgage as possible doesn’t mean you aren’t still on the hook for the difference. Mike is correct ! There will be more judgements to follow..this is going to sprout Nike shoes and follow him around.Couldnt happen to a better guy.

  44. moseszd says: Mar 4, 2011 11:06 AM

    It’s called a strategic default. Rich people do it all the time. Heck, I’ve advised multiple clients of mine to take that road.

    When the banks, Realtors, appraisers and loan servicer have been ripping you off for years and years so they could make money on your back… When half the repo market is rampant with fraud and abuse… When the banks cooked bankruptcy ‘reform’ to give them all the power and took away YOUR renegotiation rights from debtors…. Rights that, btw, corporations like them still have…

    You don’t owe them fair play. They broke that concept. If you can, in your state, legally walk-away and you have no particular reason to stay… Just walk away.

  45. packerrube13 says: Mar 4, 2011 11:12 AM

    Hue Jackson, for real?

    Hottest team, by what definition?

    I will sit over here and wait for your response, as my team polishes up the Lombardi trophy.

  46. scoops1 says: Mar 4, 2011 11:14 AM

    why doesn’t he just rent the house out to ViVid Entertainment so he can keep it.

    I’m sure Brianna Banks would love that house

  47. klunge says: Mar 4, 2011 11:18 AM

    FYI, while California might prevent the bank from coming after him for the loss, he will receive a 1099C (cancellation of debt, considered as income), and there’s a solid chance he could owe capital gains to the IRS on that amount. That would be whatever he owes minus whatever they sell it for. If that’s like a million-dollar spread, he’ll be on the hook for taxes to the tune of at least what he already owes in back-payments.
    Foreclosure isn’t good business sense in general, and in this case it’s unethical because he can afford to pay it and would just be contributing further to the mortgage crisis.

  48. jimmysee says: Mar 4, 2011 11:35 AM

    For all the bruising this guy is taking from all the geniuses here on pft, it is really a sad story.

    He has all the talent in the world, but never the intangibles needed to make it work.

    On the other hand, Matt Flynn, the guy who succeeded him as starter at LSU, who rode the pine behind Russell, and only started for one year, has carved out a nice career for himself as a 7th round draft pick in Green Bay.

    JaMarcus Russell should be a case study at NFL rookie orientation of how not to run your pro career.

  49. radzil says: Mar 4, 2011 11:53 AM

    chapnastier says:
    Mar 4, 2011 10:19 AM
    @ clinton

    Logic like that is what caused the financial situation we are in today my friend. You are the first person that I have ever heard that thinks it is smart to carry that much debt.

    ___________________________________
    Exactly.

    Clinton said “You NEVER pay cash and tie up your own money when you can get cheap money with a loan. Ask any real estate investor.”
    First off, this is some of the worst fincancial advice I’ve ever heard. I can’t tell you how many of my college professors would have a heart attack if they heard this. You dont take out a loan when you have more than enough money to pay cash. Second, Russel didn’t purchase this home as a real estate investment. This home was for personal use.

  50. sourdough says: Mar 4, 2011 11:55 AM

    huejackson: NFL fans haven’t forgotten the Raiders recent ‘accomplishment’ of having set an NFL record for posting the most consecutive seasons seven (7) w. at LEAST eleven (11) losses. Quite an accomplishment and certainly something to be very proud of as a Raiders fan.

  51. 8man says: Mar 4, 2011 12:50 PM

    I don’t blame the Raiders for this. They gave this crummy kid a wonderful opportunity under a horribly skewed compensation system and he pissed it away! It wouldn’t matter what team it happened to, its not funny. It’s just a sick waste. Horrible.

    If I were a Raider fan, I’d have nothing but disdain and anger for him if I ever met him. Treat my colors like that? Uh uh.

    They weren’t the first to be suckered and they won’t be the last. But they’ll be last team this bum takes for a ride.

  52. thegrantreese says: Mar 4, 2011 12:52 PM

    First, I love the comments from people that haven’t read the comments from other people about how they can’t go after him for the balance.

    To know if this is a strategic default we need to know if that is the total outstanding balance on the property, because ~200k for a 2.4 million mansion is a great deal.

  53. JSpicoli says: Mar 4, 2011 1:27 PM

    clintonportisheadd says:
    Mar 4, 2011 8:51 AM
    chapnastier says: Mar 4, 2011 8:41 AM

    Why didn’t he just pay cash for the house? I mean if I have 32 million bucks I don’t think I take out loans for things. What an idiot.

    ———————–

    You NEVER pay cash and tie up your own money when you can get cheap money with a loan. Ask any real estate investor.

    ____________________________________

    LOL @ that^.

    Do you know the difference between a “real estate investor” and a seagull?

    The seagull can still leave a deposit on a Mercedes.

  54. masterblaster78 says: Mar 4, 2011 1:45 PM

    Guess Russell will have to get a job at the driveup at McDee’s. Wonder how much he’ll make?

  55. motleyb64 says: Mar 4, 2011 2:04 PM

    Didn’t someone send JaMarcus a memo? OK, I guess I MUST tell him; Hey dude, it’s OK to spend money like you just did, only if you’re a politician!

  56. nflfan01 says: Mar 4, 2011 5:56 PM

    huejackson says:
    Mar 4, 2011 10:40 AM
    Note to PFT,
    Us Raider fans dont care about Jamarcus russell, You only print these stories cause you think it hurts us. We dont care…
    Raiders are the hottest team in The NFL right now and will be the superbowl champs.
    Its funny I never see you guys write about past bust for other teams.
    Patsriots selected Chad Jackson number 1 pick in 2007.. where is he? out of the NFL.
    Oh and PFT your loser stellers, yeah how about their number 1 picks
    Steelers draft Jamain Stephens
    hmmmmm….. No mention of that guy????
    Nobody remebers the team who lossed the superbowl.

    WOW..where do I begin Hue? Laurence Maroney was the “Patriots” 1st round pick!
    Steeler’s not stellars
    Patriots not Patsriots
    remembers not remebers
    and….last but definitely not least (and not just a typo)
    The Steeler’s lost…..not lossed.

    Raiders had a fantastic 2nd half year but superbowl champs? Gonna take a few years buddy!

  57. rayguyreturns says: Mar 4, 2011 8:07 PM

    Russell is only another failure in a list of blunders called “the Draft”. Trouble is , he was a major blunder. All of the genius’ here forget that he was picked to go #1 or #2 by all (or most) of the draft guru’s.

    So, were we supposed to pick Brady Quinn instead? Yeah, that’s going really well.

    Personally, it doesn’t bother me a bit to hear about this loser having problems. He carried a lot of fans hopes and dreams on his shoulders and he didn’t care one bit about anything except collecting his “welfare” check.

    So, while the rest of us work hard and press on, this bozo can sit in comfort somewhere living off stolen money. I hope he ends up living in a card board box begging for dimes.

  58. blueyedcharlie says: Mar 5, 2011 2:19 AM

    Hey Russell, ding ding ding!!! Even after your agents cut, Uncle Sams cut, State of California’s cut, sharing with the project “boyz in the hood,” are you telling me you didn’t have enough money being the A#1 draft pick that you didn’t have enough green, lettuce, smack, moula, Benjamin’s, aka CASH in your pocket to perhaps use your two brain cells and just pay for your luxury pad with cash?!?!?!!! What a Delbert! You handle your money as miserably as you handled the pig skin. And with apologies to you wonderful Raider fans, I’m a Cowboy fan (sorry kinda grew up in the shadow of the Cotton Bowl), but you all have my condolences with the screw job you got from this two celled amoeba!! Hopefully things will improve quickly for all of you!

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